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Knorr-Bremse Proposes Mangold, Dahnke, Enders, Schürhoff, Weimer For Election To Supervisory Board

Knorr-Bremse AG (KNRRY.PK,KNBHF.PK), a German manufacturer of braking systems for rail and commercial vehicles, said that its supervisory board has proposed to the Annual Shareholders' Meeting in May 2021 that Klaus Mangold be re-elected to the Supervisory Board of the company for a further two-year term. The proposal is intended in particular to ensure continuity following death of Heinz Hermann Thiele.

In addition, the Supervisory Board elected Theodor Weimer as a member of the Presiding Committee with immediate effect and as a further Deputy Chairman of the Supervisory Board.

Stefan Sommer (58), previously for many years Chairman of the Board of Management of ZF Friedrichshafen AG and member of the Board of Management of Volkswagen AG, will be proposed to the Annual General Meeting for election to the Supervisory Board.

The company said it will postpone initially planned election of Nicolas Peter to the Supervisory Board.

The Supervisory Board also decided to re-elect Kathrin Dahnke, Thomas Enders, Mrs. Thiele-Schürhoff and Theodor Weimer to the Supervisory Board.

With the re-election of Mrs. Thiele-Schürhoff, the Thiele family, which holds around 59% of Knorr-Bremse shares, remains represented on the Supervisory Board.

The company noted that it will appoint Claudia Mayfeld (57) to the Executive Board on May 1, 2021 for an initial period of three years. She will head the newly created department Integrity and Legal.

In addition, the company has decided to propose to the Annual General Meeting a dividend of 1.52 euros per share for the 2020 financial year.

The Supervisory Board and Executive Board have also decided to give employees a share in the company's success through a global stock program.

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